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Populaire Word Problems >

If 16, 000 is invested in an account for 25 years. Calculate the total interest earned at the end of 25 years if the interest is 5% compounded annually

Solution

I f 16, 000 i s in v es t e d in an a cco u n t f or 25 ye a rs . C a l c u l a t e t h e t o t a l in t eres t e a r n e d a t t h e e n d o f 25 ye a rs i f t h e in t eres t i s 5% co m p o u n d e d ann u a ll y

Solution

Interest : 38181.68

étapes des solutions

Translate the problem into an equation:

54181.67905 \dots = 16000 + I

Solutionner pour

I, 54181.67905 \dots = 16000 + I : I = 38181.68

Interest : 38181.68

Exemples populaires

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